Pan American buys Minefinders

Pan American Silver said it will buy Canadian precious metals miner Minefinders for about C$1.5bn (£955m) to boost production from Mexico and cut output costs. Vancouver-based Minefinders owns and operates the multi-million ounce Dolores gold and silver mine in northern Mexico. The offer of C$15.60 per share isa premium of 36 per cent to Minefinders’ Friday closing price.